Delivery of its 3rd Eco-design newbuilding and 2006-built Eco-mod tanker

Ardmore Shipping logoArdmore Shipping Corporation announced the delivery of the newbuilding Ardmore Seavantage, a 49,999 Dwt IMO 3 Eco-design MR product and chemical tanker built at SPP Shipbuilding in South Korea.

Following delivery, the Ardmore Seavantage commenced operating under an existing charter arrangement with the Vitol Group. Ardmore also announced that last week it took delivery of the 2006-built Ardmore Seamariner, a 45,726 Dwt MR product tanker built at Minami Nippon Shipbuilding in Japan and acquired by the Company in October 2013. Following delivery, the vessel entered drydock, where it is being upgraded to Eco-mod in conjunction with its scheduled intermediate survey.

With the addition of these two vessels, Ardmore's fleet stands at 10 ships in operation and 11 Eco-design MR product and chemical tankers on order, with the next newbuilding vessel, the Ardmore Seavanguard, scheduled to deliver from SPP in February 2014.

Additionally, in late December 2013, the Company commenced planned upgrades on the Ardmore Centurion to improve fuel efficiency and commercial capability in chemical trades. Following completion of the upgrade program, the Company expects that the vessel will resume operating in product and chemical trades in late January 2014.

Anthony Gurnee, the Company's Chief Executive Officer commented:

"We welcome the Ardmore Seavantage and Ardmore Seamariner to our fleet. These additions represent our commitment to well-timed growth through the acquisition of Eco-design newbuildings and Eco-mod vessels, and our dedication to service excellence through the operation of a modern, high quality fleet with particular focus on fuel efficiency. Furthermore, we are pleased to have identified a window in the Ardmore Centurion's trading schedule to complete upgrades, thus positioning the ship to benefit more fully from an improving product and chemical tanker market."

Source: Ardmore Shipping